Industry-Leading Stock Control Features to Enhance Warehouse Operational Efficiency
Average Cost Reporting
NetSuite’s software includes an advanced feature for average cost reporting. This tool accurately calculates the average cost of your inventory, giving you a better understanding of your inventory expenses. By knowing your average costs, you can make more informed pricing and restocking decisions, helping to improve your bottom line.
Creating Custom Types of Inventory
NetSuite offers flexibility in inventory management with its ability to create custom types of inventory. Whether your stock consists of raw materials, finished products, or spare parts, you can customise your inventory categories accordingly. This allows for more precise tracking and management of your stock types, further streamlining your inventory management processes.
Automating Physical Inventory Count
Managing physical inventory counts can be time-consuming and prone to errors. NetSuite’s software automates this process, using mobile technology to accurately count your stock items during routine pick, pack and ship processes. This automation saves time and minimises discrepancies in your inventory records, ensuring you have accurate data to guide your inventory decisions.
Stock Alerts
NetSuite’s software has a built-in alert system to notify you when stock levels reach a predefined threshold. These minimum stock alerts help prevent stock-outs and overstocking, ensuring you always have the right amount of stock on hand. Whether it’s a low-stock alert or a notification of excess supply based on projected requirements, these alerts enable you to respond promptly and maintain balanced inventory levels.
Custom Barcode Creation and Label Generation
NetSuite offers custom barcode creation and label generation. This feature simplifies stock identification and tracking, making stock management more efficient. Whether you need barcodes for new items or replacement labels for existing stock, NetSuite has you covered.
Inventory Activity Reports
NetSuite’s software provides comprehensive inventory activity reports. These reports give you detailed insights into stock movements, sales trends, and more. By reviewing these reports, you can identify patterns, spot potential issues, and make data-driven decisions to optimise your inventory control.
Automated Replenishment
Manual tracking of inventory and stock replenishment tasks is a tedious process in many warehouse settings. NetSuite’s software automates the replenishment process by allowing you to set up custom reorder points. When stock levels reach a specified threshold, the system triggers purchase order creation and creates replenishment tasks, ensuring you never run out of essential items.
Integrated Supply Chain Management
To achieve optimal stock control, integration with other business processes is crucial. NetSuite’s software seamlessly connects stock control with procurement, manufacturing, and sales operations. This integration enables better coordination across departments, streamlines the entire supply chain, and enhances overall operational efficiency.
Live Reporting and Analytics
Data-driven decision-making is critical to successful stock control. NetSuite’s software offers comprehensive reporting and analytics capabilities, allowing you to monitor key inventory metrics such as stock turnover, fill rate, and carrying costs. By gaining insights into your inventory KPIs, you can identify areas for improvement, implement effective strategies, and continuously optimise your stock control processes.
Integrated Supply Chain Management
To achieve optimal stock control, integration with other business processes is crucial. NetSuite’s software seamlessly connects stock control with procurement, manufacturing, and sales operations. This integration enables better coordination across departments, streamlines the entire supply chain, and enhances overall operational efficiency.
Live Reporting and Analytics
Data-driven decision-making is critical to successful stock control. NetSuite’s software offers comprehensive reporting and analytics capabilities, allowing you to monitor key inventory metrics such as stock turnover, fill rate, and carrying costs. By gaining insights into your inventory KPIs, you can identify areas for improvement, implement effective strategies, and continuously optimise your stock control processes.
On-Platform Customer Relationship Management
NetSuite’s stock control software also integrates with its native Customer Relationship Management (CRM) functionality, ensuring a seamless customer experience. The software helps businesses to improve customer service by providing real-time access to stock information. This empowers sales teams and customer service representatives with the information they need to help customers with buying decisions.
Benefits of NetSuite’s Stock Control Software: Modern Inventory Management
NetSuite’s advanced inventory management software goes beyond traditional stock control. With features like real-time inventory tracking and accurate inventory counts, businesses can harness a wide range of tools for strategic decision-making.
Unlimited Inventory and Warehouse Management Functionality Customization
NetSuite’s software facilitates comprehensive customisation capabilities allowing it to cater to the needs of both small and midsize businesses as well as large-scale inventory operations. Aided by real-time inventory tracking, companies can optimise their warehouse space and streamline outgoing stock processes.
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Enhanced Inventory Reporting
Having real-time insights into your inventory levels, locations, and stock movements is essential for efficient stock control. NetSuite’s software provides you with comprehensive visibility, enabling you to make informed decisions based on accurate, up-to-date inventory data. Whether you have multiple warehouses or retail outlets, tracking stock across different locations becomes seamless.
Accurate Demand Forecasting
Effective stock control involves balancing inventory levels with customer demand. NetSuite’s software utilises advanced algorithms to analyse historical data, market trends, and other factors to provide accurate demand forecasts. By aligning your inventory levels with predicted demand, you can avoid excess stock, reduce carrying costs, and optimise cash flow.
Visibility of Unsold Inventory
Maintaining visibility of unsold inventory is crucial in managing stock levels and avoiding excess stock. NetSuite’s software offers real-time visibility into unsold stock, helping you identify slow-moving items and make necessary adjustments to your purchasing strategy. This visibility enables more effective stock control and contributes to improved cash flow.
Efficient Order Fulfillment
NetSuite’s stock control software optimises order processing and reduces fulfilment time. By streamlining pick, pack, and ship operations, you can ensure faster delivery to your customers. Minimising stock-outs and backorders enhances customer satisfaction, leading to increased loyalty and repeat business.
360 Degree Customer Management
NetSuite’s stock control software not only optimises inventory management but also bolsters customer management. It assists businesses in reaching prospective customers with its inventory overview capabilities, ensuring potential customers are always informed.
Efficient Order Fulfillment
NetSuite’s stock control software optimises order processing and reduces fulfilment time. By streamlining pick, pack, and ship operations, you can ensure faster delivery to your customers. Minimising stock-outs and backorders enhances customer satisfaction, leading to increased loyalty and repeat business.
360 Degree Customer Management
NetSuite’s stock control software not only optimises inventory management but also bolsters customer management. It assists businesses in reaching prospective customers with its inventory overview capabilities, ensuring potential customers are always informed.
Scalability
Whether you operate a small product business or manage a large enterprise, NetSuite’s stock control software scales to your needs. Its inventory management features enable businesses of all sizes to enhance their daily operations, saving valuable time and upfront costs.
Integrations with Other Software Options
NetSuite’s stock control software integrates with various other software options, such as Cin7 Omni, Cin7 Core, Zoho Inventory WASP Inventory Cloud and PackageX Inventory, to name a few, which provides a single platform for managing all aspects of warehouse operations. It can also be integrated with the Katana Cloud Manufacturing solution, facilitating an efficient manufacturing process.
Flexibility and Compatibility
Whether you’re dealing with CSV files or PDFs, NetSuite’s inventory management application ensures compatibility. From generating custom shipping labels to creating product categories, NetSuite simplifies inventory management.
Conclusion
NetSuite’s advanced stock control software offers businesses a powerful solution to transform inventory management processes. With enhanced visibility, streamlined operations, and accurate forecasting, companies can achieve greater efficiency, cost savings, and customer satisfaction. Embrace the power of NetSuite’s stock control software and revolutionise your business today.
